$BB | Shorts won on Friday 28th May – next week bulls got a new chance! | 12$ resistance as Make or Break borderline!

🍇 Chart update for $BB 🍇

Last friday we saw a first attempt to start a new uptrend. The first price target (12$) was reached in less than 24 hours. Subsequently the price got heavily rejected at the resistance level of 12$, forming a bearish candle.

The volume on Friday was much higher than the average. The short sellers tried to push the share price down below the resistance at 12$ in order to avoid a further surge. I assume they are really scared to see the price above that level because chartwise that means a bullish trend reversal.

Next week Blackberry needs to break the resistance around 12$. Beyond 12$ there is almost no resistance besides the ATH. Furthermore the short interest rose during the consolidation since February. The percentage of float shorted is around 9% now (5/14/2021) which provides additional fuel for a squeeze. That means we could see a fast acceleration of the new uptrend.

If the share price of $BB falls below the support at 8.5$ the bullish scenario is not valid anymore.

Price targets:

#1 12$ ✅ 28th May

#2 25$

#3 48$

#4 🚀🚀🚀

I'd like to quote the user IncognitoCumShot here: "Anything under $140 is a dip" ❤

This is no financial advice – I am just sharing my opinion. Please do your own due diligence!

https://preview.redd.it/qd9qf54ac7271.png?width=1518&format=png&auto=webp&s=4c239eb9dc85d2879ba73145fe976a299e6480b6

submitted by /u/Philbertan
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